It’s better to get the list of POS operators in Nigeria that CBN has approved to ensure secure transaction
Point of Sale (POS) terminals provide essential payment infrastructure for businesses and consumers in Nigeria. The Central Bank of Nigeria (CBN) regulates POS services and providers in the country.
This article provides a comprehensive list of leading POS operators in Nigeria that are approved and licensed by the CBN as of 2022.
Read Also: How to Get Palmpay POS 2023 [Complete Guide]
Overview of POS System in Nigeria
A POS or point-of-sale system allows merchants and businesses to accept customer card payments. It comprises a terminal device, software, and supporting infrastructure.
Key benefits of POS for businesses:
- Accept card payments from customers
- Track sales data efficiently
- Manage inventory, billing, and reporting.
- Enable omnichannel payments
For customers, POS allows convenient cashless payments using their debit, credit, and prepaid cards issued by banks.
List of POS Operators in Nigeria Approved By CBN
The CBN introduced guidelines and regulations for POS services in Nigeria. Providers must obtain approval and meet certain capital, infrastructure, and security criteria.
Here are the major CBN-approved POS operators in Nigeria:
1. Interswitch
Ownership: Nigerian company
Year Founded: 2002
Headquarters: Lagos
Interswitch pioneered modern digital payments infrastructure in Nigeria. It was the first to provide POS solutions and payment-switching infrastructure.
Today, Interswitch offers a full omnichannel payments platform, including:
- POS terminals
- Payment processing
- Chip & PIN debit cards
- Contactless payments
- Payment gateway
Interswitch powers payments for many leading banks, businesses, multinationals, and government agencies in Nigeria. It has over 200,000 POS terminals deployed nationwide.
2. eTranzact
Ownership: Nigerian company
Year Founded: 2003
Headquarters: Lagos
eTranzact is a leading provider of payment switching and POS infrastructure in Nigeria. Key offerings:
- POS terminals
- Mobile POS
- Payment processing
- Cards
- Automated banking services
eTranzact connects consumers, businesses, banks, and other financial service providers through its secure payment network and technologies. It has deployed over 65,000 active POS terminals across Nigeria.
3. Global Accelerex
Ownership: Nigerian company
Year Founded: 2012
Headquarters: Lagos
Global Accelerex provides digital payment solutions, including POS, mobile POS, payment gateways, and more. Some key facts:
- Deployed over 35,000 POS nationwide
- Processes payments for top Nigerian banks
- Advanced Android POS devices
- PCI DSS and EMV-compliant
Global Accelerex combines robust technology with local market expertise to offer secure, 24×7 payment solutions in Nigeria.
4. Unified Payments
Ownership: Nigerian company
Year Founded: 2013
Headquarters: Lagos
Unified Payments is a leading fintech company providing digital payment infrastructure and services in Nigeria. Key offerings include:
- POS terminals and mPOS
- Payment processing
- Payment gateway
- Card issuance
- QR payments
The company serves large enterprises, SMEs, educational institutes, banks, telcos, and government agencies. It has deployed over 15,000 POS terminals across Nigeria.
Read Also: Opay User Guide: How to Use Opay and Get a Free POS
5. Payattitude
Ownership: Nigerian company
Year Founded: 2015
Headquarters: Abuja
Payattitude offers omni-channel payment solutions built on innovative technology. Key services and products:
- POS and mPOS terminals
- Payment processing
- Debit/credit card issuance
- Merchant onboarding
- Settlement services
Payattitude serves clients across Nigeria’s banking, retail, education, hospitality, and government sectors. It is a leading POS provider with over 8,000 active terminals.
6. Cellulant Nigeria
Ownership: Pan-African company
Year Founded: 2004
Headquarters: Nairobi, Kenya
Cellulant provides a broad payments ecosystem across Africa, including POS and payment processing solutions. In Nigeria, Cellulant powers:
- Tingg POS devices
- Payment processing
- Settlement reconciliation
- Merchant services
- Card payments
Its payment platform connects consumers, businesses, and banks seamlessly. Cellulant has a strong presence across 12 countries in Africa.
7. FirstAtlantic Commerce
Ownership: Nigerian company
Year Founded: 2008
Headquarters: Lagos
FirstAtlantic Commerce offers POS solutions, payment gateways, and other digital payment services in Nigeria. Key offerings:
- Multifunctional POS terminals
- Merchant onboarding
- Payment processing
- Inventory management
- Analytics and Reporting
FirstAtlantic serves leading enterprises in the telecoms, transportation, retail, and hospitality sectors. It has deployed over 8,000 POS terminals in Nigeria.
8. Innovectives Nigeria
Ownership: Nigerian company
Year Founded: 2012
Headquarters: Lagos
Innovectives provides an array of payment solutions tailored for the African market:
- POS and mPOS terminals
- Payment processing
- QR Code payments
- Loyalty management
- Payment reconciliation
Innovative serves clients across Nigeria’s banking, government, education, retail, and hospitality sectors. It powers payments for over 6,000 POS terminals nationwide.
9. Electronic Settlement Limited (ESL)
Ownership: Nigerian company
Year Founded: 2013
Headquarters: Lagos
ESL offers POS solutions, payment processing, and other digital payment infrastructure to clients in Nigeria:
- Android-based POS terminals
- Merchant onboarding
- Payment switching
- Inventory management
- Analytics and Reporting
ESL serves banks, other financial institutions, and large corporations in telecoms, oil and gas, and manufacturing industries.
10. Opay
Ownership: Multinational company
Year Founded: 2018
Headquarters: Lagos
Opay is a leading fintech platform that offers POS and payment services along with other financial solutions in Nigeria:
- Android POS terminals
- Payment processing
- Merchant acquisition
- Settlements
- Financial services ecosystem
Backed by major investors, Opay serves SMEs, large corporations, and consumers. It has rapidly deployed over 100,000 POS terminals across Nigeria.
11. Palmpay
Ownership: Nigerian company
Year Founded: 2019
Headquarters: Lagos
PalmPay offers a digital financial services platform, including POS solutions for businesses in Nigeria:
- PalmPOS terminals
- Payment processing
- Inventory management
- Analytics and Reporting
- Cashless payments for customers
PalmPay combines technology and local market expertise to drive financial inclusion in Nigeria.
12. Moniepoint
Ownership: Nigerian company
Year Founded: 2019
Headquarters: Lagos
Moniepoint is a fast-growing fintech company that provides payment solutions, including POS services:
- Android POS terminals
- Payment processing
- Merchant services
- Settlements
- Financial services ecosystem
Moniepoint leverages technology to make payments seamless for businesses and consumers in Nigeria.
13. KongaPay
Ownership: Nigerian company
Year Founded: 2014
Headquarters: Lagos
In addition to e-commerce, Konga also offers KongaPay, which provides POS and payment processing services:
- POS terminals
- Payment processing
- Inventory management
- Cashless payments for customers
- Merchant acquisition
KongaPay facilitates digital payments for merchants and shoppers across Nigeria.
14. NowNow
Ownership: Nigerian company
Year Founded: 2018
Headquarters: Lagos
NowNow provides digital financial services, including POS terminals leveraging AI and big data:
- NowNow POS
- Payment processing
- Data Analytics
- Cashless payments
- Merchant services
NowNow uses technology to make payments seamless for banks, businesses, and consumers.
Read Also: How to Get Paga POS Machine (Price and Charges)
To Sum Up
POS systems provide essential payment acceptance infrastructure in Nigeria and enable cashless transactions.
CBN regulations ensure that only approved operators provide POS services by meeting security, capital, and technical criteria.
Leading CBN-licensed POS companies like Interswitch, Global Accelerex, and eTranzact offer robust, large-scale solutions tailored for the Nigerian market.
Other notable players include Opay, PalmPay, Cellulant, Payattitude, Moniepoint, and KongaPay.
These CBN-approved operators power millions of POS terminals deployed across Nigeria, providing businesses and consumers with secure, convenient, cashless payment options.
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